The SBA recently released SBA Procedural Notice 5000-20057 (effective October 2, 2020) (the “Notice”) outlining the required procedures for change of ownership of an entity that has received PPP funds.
As a result of the Coronavirus Aid, Relief & Economic Security (CARES) Act, the Federal Reserve has created the Main Street Lending Program (MSLP) to provide up to a total of $600 billion in financing for small and medium size businesses who were in sound financial condition before the onset of the COVID-19 pandemic.
If your business was able to transition to work from home positions during the Safer at Home order, it may be worthwhile to implement a remote work policy into your employee handbook if it does not already contain one.
On May 11, 2020, Governor Tony Evers caused the Emergency Order #36 – Interim Order to Turn the Dial to be issued. While this Emergency Order does not end the Safer at Home restrictions, it does allow additional business to open while taking certain precautions.
On March 25, 2020, the Senate unanimously passed the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), a $2 trillion stimulus package designed to help the ailing economy and ease the burden on families and businesses.